Perspectives of the social and economic cooperation among the SCO member states in condition of globalization

Abstract

The paper discusses the main directions of the social and economic cooperation among SCO member states in trade, economic and investment spheres, and transport-communication potential of the region. On the example of The Republic of Uzbekistan, it is discussed the priorities of the social and economic development, such as the modernization of industry and competitiveness, the increase of investment, the development of the transport system, as well as the project of a free industrial economic zone in the context of the SCO member states. The author shows that the equal and mutually beneficial cooperation in the SCO framework in various areas of economic cooperation has to be developed, which in fact confirms the expectations of its role as a key element of strengthening of the economic security and stability, and the harmonization of the integration processes in the region. Also, the article examines the legal framework of cooperation in the SCO framework, such as the Treaty on the long-term friendship and cooperation of the Shanghai Cooperation Organization, which establishes the principles of sovereignty, territorial integrity and inviolability of the borders of the SCO countries, peaceful resolution of differences and disputes, as well as mutual respect for the choice of the path of political, economic, social and cultural development, according to national circumstances of each state.